Google expands financial services | Fusion - WeRIndia

In a significant move to bolster its financial services offerings, Google has unveiled a range of credit facilities through strategic partnerships with banks and Non-Banking Financial Companies (NBFCs).

These include catering to both merchants and consumers.

For merchants seeking swift access to working capital, Google has introduced a merchant credit line in collaboration with ePayLater.

This credit line is designed to assist both online and offline merchants in procuring stock and supplies with greater ease.

Merchants in search of smaller credit options can explore sachet loans, provided in conjunction with DMI finance.

These sachet loans are available for amounts as low as ₹15,000, offering flexible repayment plans starting at ₹111.

To simplify the process of securing merchant loans, Google has partnered with ICICI Bank and Indifi.

This partnership ensures a hassle-free experience for merchants in need of loans, including repeat loans.

Not limiting its efforts to merchant credit, Google is venturing into the consumer lending segment with new initiatives.

Collaborating with Axis Bank, Google is set to offer personal loans to consumers directly through the Google Pay app.

Already, Google Pay provides personal loans through a partnership with DMI Finance, and additional partnerships are expected shortly.

In yet another strategic partnership, Google has joined forces with ICICI Bank to bring credit access to the Unified Payments Interface (UPI).

This development means that customers will soon be able to tap into credit lines offered by banks on the UPI platform. Thus, it intends to facilitate seamless payments via the Google Pay app.

These initiatives by Google underscore the tech giant’s commitment to enhancing financial accessibility for both merchants and consumers.

By leveraging its vast network and expertise, Google aims to provide quick and convenient credit solutions.

In this way, the tech giant helps contribute to the financial empowerment of businesses and individuals alike.

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